Bristol-Myers Squibb Company (BMY) Position Reduced by Texas Permanent School Fund
Texas Permanent School Fund decreased its stake in shares of Bristol-Myers Squibb Company (NYSE:BMY) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 488,739 shares of the biopharmaceutical company’s stock after selling 11,899 shares during the period. Texas Permanent School Fund’s holdings in Bristol-Myers Squibb were worth $26,578,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in BMY. American National Bank increased its stake in shares of Bristol-Myers Squibb by 36.0% in the first quarter. American National Bank now owns 1,919 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 508 shares during the period. Welch Investments LLC increased its stake in shares of Bristol-Myers Squibb by 3.9% in the first quarter. Welch Investments LLC now owns 2,109 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 79 shares during the period. Crestwood Advisors Group LLC purchased a new stake in shares of Bristol-Myers Squibb during the first quarter valued at about $116,000. State of Alaska Department of Revenue increased its stake in shares of Bristol-Myers Squibb by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 2,229 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 60 shares during the period. Finally, Prentiss Smith & Co. Inc. increased its stake in shares of Bristol-Myers Squibb by 61.8% in the first quarter. Prentiss Smith & Co. Inc. now owns 2,333 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 891 shares during the period. 68.78% of the stock is currently owned by institutional investors.
Bristol-Myers Squibb Company (NYSE BMY) traded up 0.50% during trading on Monday, reaching $58.66. 775,030 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $56.20 and a 200-day moving average price of $55.23. The firm has a market cap of $96.20 billion, a PE ratio of 21.42 and a beta of 1.17. Bristol-Myers Squibb Company has a 12 month low of $46.01 and a 12 month high of $60.45.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. The business had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter last year, the company posted $0.69 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, analysts forecast that Bristol-Myers Squibb Company will post $2.98 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Friday, July 7th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.56 dividend on an annualized basis and a yield of 2.67%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently 56.73%.
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BMY has been the topic of several recent analyst reports. BidaskClub raised shares of Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Jefferies Group LLC reissued a “buy” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Wednesday, July 12th. Vetr downgraded shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $61.66 target price on the stock. in a research note on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a research note on Wednesday, August 9th. Finally, Deutsche Bank AG set a $55.00 target price on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research note on Monday, July 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company. Bristol-Myers Squibb presently has a consensus rating of “Hold” and a consensus price target of $62.31.
In related news, Director Theodore R. Samuels II acquired 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was acquired at an average price of $55.94 per share, for a total transaction of $335,640.00. Following the completion of the acquisition, the director now owns 18,000 shares of the company’s stock, valued at approximately $1,006,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.23% of the company’s stock.
Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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